OPEN-SOURCE SCRIPT
已更新 CM_Williams_Vix_Fix - Market Top and Bottom with multi-timeframe
This is a modification of CM_Williams_Vix_Fix indicator to include both market tops and bottoms with multi-timeframe support. The original indicator only finds market bottoms.
All credits go to the original author ChrisMoody.
Original script link
Working:
The histogram above 0 signifies the trend of market going UP and the histogram below 0 signifies the trend of market going DOWN.
The histogram bar is calculated using "LookBack Period Standard Deviation High" number of candles. A threshold is calculated using bollinger bands and based on percentile of "Look Back Period Percentile High" number of candles.
If the histogram bar above 0 crosses the up threshold then we have market top which is signified by histogram bar having the color green. If the histogram bar below 0 crosses the down threshold then we have market bottom which is signified by histogram bar having the color red.
The market tops and bottoms can also be calculated across multiple timeframes.
Sample usage:
Suppose the market is in an uptrend and the indicator displays red market bottom bar, this might be an indication that the market has reached the end of a pullback. We can use additional indicators like stochastic or rsi to get additional confluence.
This indicator does not repaint but you need to wait for the candle to close.
All credits go to the original author ChrisMoody.
Original script link
Working:
The histogram above 0 signifies the trend of market going UP and the histogram below 0 signifies the trend of market going DOWN.
The histogram bar is calculated using "LookBack Period Standard Deviation High" number of candles. A threshold is calculated using bollinger bands and based on percentile of "Look Back Period Percentile High" number of candles.
If the histogram bar above 0 crosses the up threshold then we have market top which is signified by histogram bar having the color green. If the histogram bar below 0 crosses the down threshold then we have market bottom which is signified by histogram bar having the color red.
The market tops and bottoms can also be calculated across multiple timeframes.
Sample usage:
Suppose the market is in an uptrend and the indicator displays red market bottom bar, this might be an indication that the market has reached the end of a pullback. We can use additional indicators like stochastic or rsi to get additional confluence.
This indicator does not repaint but you need to wait for the candle to close.
版本注释
Alerts added开源脚本
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这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。